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TN Timeshare Practice Exam Questions with 100% Correct Answers | Updated & Verified | 2024
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TN Timeshare Practice Exam Questions with 100% Correct Answers | Updated & Verified | 2024
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TN Timeshare Practice ExamQuestions with 100% Correct Answers |
Updated & Verified | 2024
What are the powers of the real estate commission? ✔✔They can fine licensees, suspend the license,
refer you to a court of law, their investigator can come by any time during business hours to see any of
your records and they can close a development.
The real estate commission forms the rules in accordance with the ____. ✔✔Tennessee Code Annotated
What are the prerequisites for licensing? ✔✔Honest, 18 years of age, resident of state, not criminal,
not on probation.
True or false? An applicant who has passed the exam within the last 6 months is not necessarily qualified
for a license. ✔✔True
What is the renewal fee for the license? ✔✔80
The original license fee is ____ Plus ___ for education and recovery fee? ✔✔100, 30
You must renew you license ____ days prior to expiration ✔✔60
, You must make a minimum passing score of _____% on your exam. ✔✔70
If you terminate your affiliation you have ___ days to notify the commission. ✔✔10
If your broker tells you to sell only to a particular group and you do as you were instructed, you are
guilty of _____. ✔✔Discrimination
What are the requirements for a contract and agreement to be made? ✔✔Offer an acceptance,
valid consideration, competent parties, legal purposes, reality of consent
Disclosure of everything related to a loan is considered? ✔✔Truth in lending, came into being
after banking industry was deregulated
_____ is a consumer credit protection law which is part of truth in lending ✔✔regulation-7 enacted
1969
When does your license expire? ✔✔2 years less 1 day from the date of issue
How do you get reinstated if you let you license expire? ✔✔The penalty is 50 per month for 2 months,
100 per month up to six months after that you must retake the test.
Who is the developer? Can they be refused a license or registration? ✔✔The seller. Yes if they
are immoral, financially unstable
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